TIL my bank's new 'instant transfer' feature actually takes 3 business days if you send over $500

I heard a teller explaining it to someone else in line yesterday. She said the fine print calls it 'funds availability,' not the transfer itself being instant. For anything under that amount, it shows up right away, but larger sums get held. Makes me wonder what other payment features aren't quite what they seem. Has anyone else run into a sneaky limit like this with their bank?

2 comments

2 Comments

reesemiller1d ago

That's exactly how my credit union's "next day" bill pay works (or doesn't work). The promise is there, but the fine print says payments can take up to five business days to process, which they always seem to need for anything important. It feels like they bank on you not reading the details until you're in a bind. These marketing terms for payments are getting pretty creative with the truth.

sean_johnson161d ago

Ugh, mine does the same exact thing!